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    309 Union St Paragon, IN 46166

    • Commercial real estate
    • 8,606 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 309 Union St

    Year built
    1968
    Lot size
    0.60 lot acres
    Property size
    8,606 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 309 W Union Street in Paragon, Indiana, presents a unique investment opportunity. The expansive 8,606 square foot building offers significant potential for a variety of uses. Previously operating as a Step Saver IGA grocery store, the building's layout and infrastructure provide a solid foundation for diverse business ventures. The inclusion of two gas pumps adds further value and potential revenue streams. The property's location in Morgan County offers excellent access to a thriving community. The building's adaptability makes it suitable for a range of concepts, including restaurants, self-storage facilities, or athletic-related businesses. Its current vacant status allows for immediate occupancy and customization to suit a new owner's specific needs. The 0.6-acre lot provides ample space for expansion or outdoor activities, depending on the chosen business model. This property is readily available for viewing, offering a convenient and straightforward process for prospective buyers to assess its potential. The asking price of $309,000 represents a compelling investment opportunity in a desirable location. Don't miss this chance to acquire a versatile commercial property with significant upside potential.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Paragon
    County
    Morgan
    State
    Indiana
    Longitude
    -86.5652
    Latitude
    39.3948

    Comparable in this City

    • Value Estimation by Request
      0.39 Acres

      340 Paragon Rd

      COMMERCIAL (GENERAL) • 0.39 Acres
      340 Paragon Rd, Paragon, IN 46166
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    • Value Estimation by Request
      0.09 Acres

      2210 State Rd 67

      COMMERCIAL (GENERAL) • 0.09 Acres
      2210 State Rd 67, Paragon, IN 46166-5501
      View Details
    • Value Estimation by Request
      1,560 SF

      381 Un Union

      COMMERCIAL (GENERAL) • 1,560 SF
      381 Un Union, Paragon, IN 46166
      View Details
    • Value Estimation by Request
      2,300 SF

      Ss R 67

      COMMERCIAL (GENERAL) • 2,300 SF
      Ss R 67, Paragon, IN 46166
      View Details
    • Value Estimation
      $345,000
      5,000 SF

      259 Border St

      COMMERCIAL (GENERAL) • 5,000 SF
      259 Border St, Paragon, IN 46166
      View Details
    • Value Estimation by Request
      7,032 SF

      3012 Wilson Rd

      COMMERCIAL (GENERAL) • 7,032 SF
      3012 Wilson Rd, Paragon, IN 46166-9474
      View Details

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    309 Union St
    Paragon, IN 46166
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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